.png)
For any growing property management company, trust should be at the forefront.
But how exactly do you understand, recognize, and grow trust?
In a recent episode of the Evernest Property Management Show, hosts Spencer Sutton and Matthew Whitaker discussed just that. Both shared valuable insights and personal experiences related to fostering trust among team members as well as offered actionable advice and thorough explanations to help you build a trusting and cohesive team.
You can listen in to the conversation here, or simply read on for top takeaways. Let’s dive in!
Three Key Strategies for Building Trust
Trust is a huge topic to cover so, to guide the conversation, Matthew outlines three essential strategies for building trust within a team:
1. Sharing Vision and Values
Establishing a shared vision and core values among team members is crucial for building trust. When everyone is aligned with a common goal, trust flourishes.
This is why it’s so critical to hire individuals who embody the organization's values (which, for Evernest, include Do the Right Thing, Grow Daily, Own the Outcome, Win Together, and Embrace the Grind). But it’s also important to ensure everyone who’s already “on the bus” is entirely and meaningfully bought in.
Actionable Steps:
Define Core Values: Clearly define the core values of your organization and ensure they are communicated to all team members.
Hire for Fit: During the hiring process, assess candidates for alignment with the organization's values.
Reinforce Values: Regularly reinforce the core values through team meetings, training sessions, and performance reviews.
2. Caring First, Then Coaching
Demonstrating genuine care for team members before providing feedback or coaching is also essential for building trust.
Matthew cites John Maxwell's principle that people need to know how much you care before they can trust your expertise.
So, how much do you care? And how can you show it?
Actionable Steps:
Show Genuine Interest: Take the time to understand your team members' personal and professional goals.
Provide Support: Offer support and resources to help them achieve their goals.
Give Constructive Feedback: When providing feedback, ensure it comes from a place of genuine concern for their growth.
3. Sharing the Load
Delegating responsibilities and sharing the workload among team members also fosters a sense of ownership and accountability, which in turn builds trust.
Without frequent support, sharing, and recognition, it’s easy for resentments to build up. That’s why it’s so important to prioritize teamwork and synergy.
Actionable Steps:
Delegate Effectively: Assign tasks based on team members' strengths and interests.
Encourage Collaboration: Promote a collaborative environment where team members can support each other.
Recognize Contributions: Acknowledge and celebrate the contributions of each team member.
The Role of Leadership in Building Trust
Remember: it’s not just about your subordinates. In fact, leaders have a much higher degree of responsibility when it comes to cultivating trust within an organization.
Leaders must be intentional about creating an environment where team members feel valued and empowered.
For example, Matthew shared a fitting story about Walt Disney's decision to prioritize the installation of bathrooms over water fountains when opening Disneyland. This choice reflects the importance of caring for guests' needs, even if it meant delaying other amenities.
Decisions like this demonstrate a commitment to the team's and organization's values, reinforcing trust among team members.
Actionable Steps:
Lead by Example: Demonstrate the values and behaviors you expect from your team.
Communicate Transparently: Maintain open and honest communication with your team.
Empower Team Members: Provide opportunities for team members to take on leadership roles and make decisions.
Provide Avenues for Feedback: Whether that’s outright asking for constructive feedback from your subordinates or facilitating a company-wide engagement survey, your team should have ample opportunity to communicate their thoughts and feelings.
Conclusion: Creating a Healthy Environment
By sharing a common vision and values, demonstrating genuine care for team members, and delegating responsibilities, PMC leaders can foster an environment of trust that enhances collaboration and productivity.
As a final exercise in developing trust, you might consider one or more of the following:
Reflect on Your Leadership Style: Consider how you can incorporate these strategies into your leadership approach.
Implement Trust-Building Practices: Start implementing the actionable steps discussed in this post to build a trusting and cohesive team.
Continuously Evaluate and Improve: Regularly assess the trust levels within your team and make necessary adjustments to maintain a healthy work environment.
By following these strategies and taking intentional steps to build trust, you can create a supportive and high-performing team that is well-equipped to achieve organizational success.
And don't worry. We’ll be here to help every step of the way!
Ready for More?
We know what it’s like to grow a property management business from 30 doors to more than 16,000. The journey was anything but easy, and we learned tons of lessons along the way. Our desire to share that knowledge with you motivated us to start the Evernest Property Management Show podcast, a weekly newsletter, and our monthly webinar series for property managers.
Join Over 4,000 property management company owners who are reading the Evernest newsletter for all the latest podcast episodes, educational articles, webinar announcements, and recaps. We promise not to spam your inbox and only to deliver the highest quality, educational content to help you grow your property management business.
Sign up here today.